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Mueller Water Products Reports Fiscal 2011 Third-Quarter Results

Adjusted income from operations for the 2011 third quarter was $22.8 million compared to adjusted income from operations for the 2010 third quarter of $28.8 million. Lower shipment volumes of $6.4 million, higher per-unit overhead costs due to lower production of $5.1 million and higher raw material costs of $4.3 million were partially offset by higher sales prices of $6.6 million and manufacturing and other cost savings of $5.2 million.

U.S. Pipe

Net sales for U.S. Pipe for the 2011 third quarter were $107.1 million compared to net sales for the 2010 third quarter of $120.2 million. Lower shipment volumes of $21.8 million were partially offset by higher prices of $8.7 million.

Adjusted loss from operations for the 2011 third quarter of $9.4 million improved from an adjusted loss from operations for the 2010 third quarter of $10.4 million. Higher sales prices of $8.7 million, manufacturing and other cost savings of $1.9 million and lower selling, general and administrative expenses of $1.1 million were partially offset by higher raw material costs of $5.3 million, lower shipment volumes of $2.9 million and higher per-unit overhead costs due to lower production of $2.6 million.

Anvil

Net sales for Anvil for the 2011 third quarter of $93.8 million increased 15.7 percent from net sales for the 2010 third quarter of $81.1 million. Net sales increased primarily due to higher shipment volumes of $10.2 million and higher prices of $2.2 million.

Adjusted income from operations for the 2011 third quarter of $9.6 million increased $5.1 million compared to adjusted income from operations for the 2010 third quarter of $4.5 million. Higher shipment volumes of $3.4 million, higher sales prices of $2.2 million and manufacturing and other cost savings of $2.1 million were partially offset by higher per-unit overhead costs due to lower production of $1.3 million and higher raw material costs of $1.2 million.

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